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million registered users on its platform; nonetheless, only 7% are month-to-month active customers. Money Fellows classifies its customers as borrowers, savers or planners depending on the place their place is in a ROSCA cycle and when they obtain a payout.
It prices a one-time service fee of about 6% to customers who select its early spots; the percentage decreases down the road and turns to incentivized curiosity paid to users at the tip of the cycle.
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Money Fellows has raised $37 million in whole funding since its inception. Egyptian fintech Money Fellows has raised $31 million in what it describes as the first close of its Series B investment.